Product ID: SQMIG15C2071
Global Biofertilizers Market Size, Share, Growth Analysis, By Product(Nitrogen Fixing, Phosphate Solubilizing), By Microorganism(Rhizobium, Azotobacter), By Form(Liquid, Carrier-Based), By Application(Seed Treatment, Soil Treatment), By Crop Type(Cereals, Pulses & Oilseeds) - Industry Forecast 2024-2031
Report ID:
SQMIG15C2071 |
Region:
Global |
Published Date: February, 2024
Pages:
256
|
Tables:
146 |
Figures:
78
Global Biofertilizers Market Regional Insights
North America is expected to dominate the global biofertilizers market over the forecast period. Due to the rising number of organic farms in major economies like the United States, Canada, and Mexico, the market in North America is developing significantly. Organic food products are the preferred option for those looking to prepare clean, healthy meals at home.
The European market is anticipated to grow dramatically as a result of the strict restrictions the European Commission has imposed on the use of chemical fertilisers. Innovative organic fertilisers now have a market due to the European Union's fertilising goods regulation accord. All fertilisers traded within the European Union must adhere to stringent criteria regarding quality, safety, and labelling. The new fertiliser rule for the European Union reduces risks to human health and the environment by lowering the parameters for cadmium in phosphate fertilisers from 60 mg/kg to 40 mg/kg after three years and to 20 mg/kg after 12 years. The rule promoted the use of bio-based and organic fertilisers, giving farmers and consumers additional options and encouraging environmental sustainability.
From 2022 to 2028, Asia Pacific region is expected to experience a CAGR of 13.1%. The majority of agrarian economies, including those in India, Thailand, Japan, Malaysia, South Korea, the Philippines, and others, are concentrated in the Asia Pacific region, and they are moving toward more sustainable agricultural practises. This trend is supported by rising consumer demand for organic food, as well as legislative efforts and agricultural reforms made by the governments of various Asian countries. The biofertilizers market is expanding in lockstep with the expansion of organic farming methods. Due to the adoption of sustainable agricultural practises by farming communities in Brazil and Argentina, Latin America will experience the growth rate of 12.9% throughout the projection period.
Global Biofertilizers Market Report Snapshots
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